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ManagePay major shareholder Dr Azizan Osman buys additional 45 million shares via private placement

KUALA LUMPUR (July 9): ManagePay Systems Bhd (MPay)’s major shareholder Datuk Wira Dr Azizan Osman bought an additional 45 million shares in the company via his vehicle Richworks International Capital Holdings Sdn Bhd.

According to a filing with the bourse, the shares were acquired via a private placement exercise.

Another filing on July 1 said the fourth tranche of the private placement, comprising 45 million shares, was priced at 28 sen per share, translating to a total of RM12.6 million.

The exercise was proposed in July last year, with the company seeking to raise funds to cover expenditures related to a financial technology platform as it planned to apply for a digital banking licence from Bank Negara Malaysia (BNM).

Coupled with his previous purchase of 44 million shares on June 18, his shareholding is 10.58% or 89 million shares. The largest shareholder is Datuk Chew Chee Seng, who is also the founder and managing director.  

In a statement, MPay said Azizan raised his stake in the company in view of its bid for the digital bank licence.

On June 30, MPay, along with its strategic partners Trustgate Bhd, Crescent Capital Sdn Bhd and Richworks International Sdn Bhd had submitted an application for the licence.

It said all three partners had agreed to invest up to 45% in aggregate in the equity of MPay in the event the application is successful.

MPay rose 0.5 sen or 2% to 25 sen today, giving it a market capitalisation of RM199.07 million.

http://www.theedgemarkets.com/article/managepay-major-shareholder-dr-azizan-osman-buys-additional-45-million-shares-private

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